Wright v. Commissioner
United States Tax Court
Decedent, who had solicited insurance for a British firm on a commission basis, executed an agreement in 1936 providing for the payment of commissions after his death in designated amounts and for a limited period. He bequeathed one-half of the commission payments to petitioner, his surviving spouse.
Read the full summary
Decedent, who had solicited insurance for a British firm on a commission basis, executed an agreement in 1936 providing for the payment of commissions after his death in designated amounts and for a limited period. He bequeathed one-half of the commission payments to petitioner, his surviving spouse. Decedent died in 1951 and petitioner agreed in 1952 and 1953 to accept $ 150,000 in full settlement of her claim, and also agreed to a reduction in her payments for a portion of amounts required to pay British death duty. Petitioner received $ 50,000 from the British insurance brokers in each of…
1Opinion of the Court
Irving S. Wright and Lois E. Wright, Petitioners, v. Commissioner of Internal Revenue, Respondent
Wright v. Commissioner
Docket Nos. 83276, 84068, 86440
United States Tax Court
39 T.C. 597; 1962 U.S. Tax Ct. LEXIS 6;
December 27, 1962, Filed
Decisions will be entered under Rule 50.
Decedent, who had solicited insurance for a British firm on a commission basis, executed an agreement in 1936 providing for the payment of commissions after his death in designated amounts and for a limited period. He bequeathed one-half of the commission payments to petitioner, his surviving spouse. Decedent died in 1951…
2Cases cited2 opinions
- Findlay v. CommissionerUnited States Tax Court · 1962
- Wright v. CommissionerUnited States Tax Court · 1962